OTE Ready to Sell 20% Stake in Telekom Serbia

The Greek OTE company has informed the Serbian government that it was ready to sell its 20% stake in Telekom Serbia, reports radio B92. This would happen during the forthcoming tender to sell the Serbian state-owned telecommunications company, as confirmed for B92. OTE sent a letter to the Serbian government, which said that the company was ready to sell its shares as part of a package that will be offered to interested investors. A new Telekom owner would, according to plans, pay at least EUR1.4 billion for a 51% stake in the company, 31% of which is currently held by the government, while 20% belongs to OTE. In this way, the state would earn EUR840 million, while the Greeks would get EUR560 million. The deadline for submitting bids in the Telekom sale is March 21st.


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